Dollarama profit up 18% on surge in sales

Dollarama Inc. bids it earned $130.1 million in its third quarter, an 18 per cent repair from the same quarter last year, as sales volume at the diminish chain surged.

Sales were up 9.7 per cent to $810.6 million, as comparable lay away sales grew and the total number of stores expanded to 1,135 as of Oct. 29. The limit added 66 stores in the past year, in line with its yuppy expansion targets.

People spent on average 4.5 per cent profuse at Dollarama stores in the past year and the number of transactions expanded by 0.1 per cent.

The series increased its margins by raising prices after the low loonie earlier this year take a run-out powder stole imported goods more expensive. The company also entered into non-native exchange contracts to hedge against fluctuations in currency. Many goods saw in China and elsewhere are still priced in U.S. dollars.

The company said Wednesday that profit amounted to $1.15 per water down share, up from 92 cents per diluted share a year ago when the cast had more shares outstanding.

Dollarama’s success in the discount sector this place comes on top a 5.1 per cent increase in comparable store sales in financial 2017.